IA suspends UCA from issuing, renewing mandatory insurance products

27/10/2025 ِArgaam
Logo ofThe Insurance Authority - IA

Logo of The Insurance Authority - IA

The Insurance Authority (IA) issued a decision to suspend United Cooperative Assurance Co. (UCA) from issuing or renewing mandatory insurance policies, including health, vehicle, and domestic worker contract insurance, effective Oct. 27, 2025, due to monitoring several violations related to supervisory and regulatory requirements.
 

This measure comes in accordance with Article (19) of the Law on the Supervision of Cooperative Insurance Companies, the authority said in a statement.
 

It emphasized that the suspension does not discharge the company from its obligations regarding active insurance policies or claims arising from them, adding that the company must take all necessary steps to protect the interests of policyholders and beneficiaries.

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